ACC 412: Taxation Accounting

Course Code
ACC 412
Course Title
ACC 412: Taxation Accounting
Course Description
Taxes are imposed on net income of individuals and corporations by the federal and local governments. Income subject to tax is determined under tax accounting rules, not financial accounting principles, and includes almost all income from whatever source. Most business expenses reduce taxable income, though limits apply to a few expenses. The Value Added Tax is one of hot issues applied in UAE and other Gulf Countries. This course covers an overview of income tax concept and sources of taxable income. The primary concern of this course is on the calculation of individual tax liability including business income. The course also covers tax implications on property transactions, tax compliance, planning and VAT application in UAE.
Prerequisites
ACC 310: Intermediate Accounting
Credits
3
Course Type
Theory
Offered
Spring